2022-03-31-accounts

Trustees/Di	rectors	Prof. K H Nicolaides
		Mr Jonathan Hyett
		Dr. Ranjit S.Akolekar
		Mr. Bruce A. Noble (Resigned			on	25/05/2021)
		Mr. Paul Jacobs
		Dr. Marietta Charakida		(Appointed			on 24/05/2021)
		Dr. Argyro Syngelaki	(Appointed			on	24/05/2021)
Secretary		Dr. Ranjit S.Akolekar
Company	Number	02922302
Registered	Office	137Harley Street
		London W1G 6BG
Auditors		AGK Partners
		Chartered Accountants		& Statutory			Auditors
		1 Kings Avenue
		London N21 3NA
Accountants		loannou &Co.,
		Chartered Accountants
		767 -769 High Road
		North Finchley
		London N12 8JY

							Page
Trustees'/Directors' Report							1to4
Independent	Auditors' Report						5to 8
Statement of Consolidated			Income and Expenditure		and Retained	Earnings
Consolidated	Statement	of	Financial	Position			10
Company Statement of		Financial Position
Consolidated	Statement	of	Cash Flows				12
Consolidated	Statement	of	Financial	Activities			13to 14
Accounting	Policies						15to 17
Notes to the	Accounts						18to 26

					Notes	2022	2021
						8	E
Income
Income from charitable activities						179,521	36,067
Rental income						277,194	201,255
Special Services to Hospitals						4,600,831	4,730,135
Net Trading Surplus from Non-Charitable			trading	activities
Income 612,723,232 (2021 - Expenses 69,944,299 (2021 -		69,457,322 ) 67,670,904 )			1 &10	2,778,933	1,786,418
Total Income						7,836,479	6,753,875
Administrative expenses						(1,670,023)	(1,387,318)
Grants and Donations						(3,507,572)	(1,758,142)
Operating Surplus						2,658,884	3,608,415
Interest receivable						5,904	2,176
Surplus/(Deficit) on Ordinary	activities		before	taxation		2,664,788	3,610,591
Tax on Profit on Ordinary Activities						(129,664)	(196,326)
Surplus/(Deficit) on Ordinary	activities		after taxation		23	2,535,124	3,414,265
Total comprehensive income	for the year					2,535,124	3,414,265
Accumulated surplus B/Forward						13,475,834	10,061,569
Accumulated surplus C/Forward						16,010,958	13,475,834
All amounts relate to continuing	activities

			Notes	2022	2021
					E
Fixed Assets
Intangible assets			9	7,952,155	8,482,299
Tangible assets			8a	3 172,728	3,613,901
				11,124,883	12,096,200
Current Assets
Debtors				1,321,383	3,516,389
Cash at bank and in hand				10,777,738	6,803,485
				12,099,121	10,319,874
Creditors: Amounts	Falling	Due
Within One Year			12	(7,213,046)	(5,415,441)
Net Current Assets				4,886,075	4,904,433
				16,010,958	17,000,633
Creditors: Amounts	Falling	Due
After more than One	Year		13		(3,524,799)
Total Assets Less Current		Liabilities		16,010,958	13475,834
Capital and Reserves
Unrestricted income fund			15	16,010,958	13,475,834
Total Funds			15	16,010,958	13475834

					Notes	2022	2021
						E	E
Fixed Assets
Tangible assets					8b	2,623,592	2,958,781
Investments					10	1,802	1,803
						2,625,394	2,960,584
Current Assets
Debtors						8,698,887	5,467,469
Cash at bank	and	in hand				10,003,941	6,104,259
						18,702,828	11,571,728
Creditors: Amounts			Falling	Due
Within One	Year				12	(5,821,954)	(1,589,819)
Net Current	Assets					12,880,874	9,981,909
						15,506,268	12,942,493
Total Assets	Less Current			Liabilities		15,596269	12,942,493
Capital and	Reserves
Unrestricted	Income fund				15	15,506,268	12,942,493
Total Funds					15	15,506,268	12,942,493

				Notes	31-Mar-22	31-Mar-21
					f	6
Cash flows from operating		activities
Profit for the financial year					2,664,788	3,610,591
Adjustments for:
Depreciation of	tangible assets				441,173	509,781
Amortisation of	goodwill				530,144	530,144
Interest receivable and similar income					5,904	2,176
Interest payable	8 similar charges
Accrued expenses/(income)					3,970,778	251,776
Changes in:
Trade and other	debtors				2,195,006	(1,065,057)
Trade and other	creditors				(5,827,636)	(693,442)
Cash generated	from operations				3,980,157	3,145,969
Interest paid
Interest received					(5,904)	(2, 176)
Net cash from	operating activities			16	3,974,253	3,143,793
Cash flows from investing		activities
Purchase of tangible assets				8a		(572,218)
Net cash used	in investing	activities				572,218
Net increase/(decrease) in		cash and cash	equivalents		3,974,253	2,571,575
Cash and cash	equivalents	at beginning	ofyear		6,803,485	4,231,910
Cash and cash	equivalents	at end ofyear		18	10,777,738	6,803,485

				Unrestricted	Total	Total
			Notes	Funds	2022	2021
Incoming Resources
Donations and fund	raising			26,620	26,620	36,067
Rental Income				277,194	277,194	201,255
EU Grant
Special Services to	Hospitals			4,600,831	4,600,831	4,730,135
Other income				152,901	152,901
			2	5,057,546	5,057,546	4,967,457
Interest receivable				5,904	5,904	2,176
				5,063,450	5,063,450	4,969,633
Net trading Surplus from trading subsidiaries			10	2,778,933	2,778,933	1,786,418
Total Incoming resources				7,842,383	7,842,383	6,756,051
				Unrestricted	Total	Total
				Funds	2022	2021
				f	f	f
Resources Expended
Direct Charitable	Expenditure
Grants for research				3,007,356	3,007,356	1,755,834
Donations				500,216	500,216	2,308
Educational activities				221,159	221,159	156,322
				3,728,731	3,728,731	1,914,464
Other Expenditure
Depreciation Admin and Costs of Grant		Making		335,189 1,113,675	335,189 1,113,675	401,966 829,030
Financial costs
Total Expenditure				5,177,595	5,177,595	3,145,460
Surplus/(deficit) for the		year before tax		2,664,788	2,664,788	3,610,591
Tax on Profit ofordinary		activities		~129,664	~129,664	~196,326
Surplus/(deficit) for the		year after tax		2,535,124	2,535,124	3,414,265

AS AT 31 MARCH	AS AT 31 MARCH	2022
				Unrestricted	Total	Total
			Notes	Funds	2022	2021
Reconciliation of		Movement
of Funds
Opening funds			15	13,475,834	13,475,834	10,061,569
Surplus of incoming
resources for	the year		15	2,535,124	2,535,124	3,414,265
Closing funds			15	16,010,958	16,010,958	13,475,834
Non-controlling	interests
				16,010,958	16,010,958	13,475,834
Funds balance at 31 March 2022
Represented	by:-
Intangible fixed assets Tangible fixed assets Debtors less creditors			9 8a	7,952, 155 3,172,728 (5,891,663)	7,952,155 3,172,728 (5,891,663)	8,482,299 3,613,901 (5,423,851)
Cash at bank	and	in hand		10,777,738	10,777,738	6,803,485
Provision
				16,010,958	16,010,958	13,475,834

3	Operating Surplus/(deficit)
	Operating surplusi(deficit) is stated after charging:	2022 E	2021 f
	Rent Payable —premises Depreciation of owned assets Amortisation of intangible assets Auditors remuneration	903,648 441,173 530,144 16,020	901,389 509,781 530,144 13,800
4	Interest Payable and Similar Charges	2022 6	2021f
	Bank overdraft and other interest
5	Staff Costs	2022 E	2021
	Salaries and wages Social security costs Other pension costs	3,456,564 337,056 104,808 3,898,428	2,589,233 265,707 79,284 2,934,224
		2022	2021
	Average number of staff during the year - Group Average number of staff during the year - Company	106 36	79 21
	No member of staff ofthe Charity received a salary greater than F60,000 per annum.

During the year the Charity mad	e the following donations.
		2022f	2021 f.
King's College NHS Foundation	Trust	500,000
Windsor Walk			2,092
Other Donations		216	216
		500,216	2,308

8a	Tangible Fixed Assets - Group
		Leasehold	Plant and	Furniture
		Property	Machinery	&Equip	Total
	Cost At 1 April 2021	1,693,398	4,125,868	2,387,817	8,207,103
	Additions
	At 31 March 2022	1,693,398	4,125,888	2,387,817	8,207,103
	Depreciation At 1 April 2021 Charge for the year	151,472 52,577	2,885,983 247,981	1,555,747 140,615	4,593,202 441,173
	At 31 March 2022	204,049	3,133,964	1,696,362	5 034,315
	Net Book Value At 31 March 2022	1,489,349	991,924	691,455	3,172,728
	Net Book Value At 31 March 2021	1,541,926	1,239,905	832,070	3,613,901
6b	Tangible Fixed Assets - Company
		Leasehold	Plant and	Furniture
		Property	Machinery f	&Equip	Total f
	Cost At 1 April 2021	1,680,760	3,860,724	814,825	6,356,309
	Additions
	At 31 March 2022	1,680,760	3,860,724	814,825	6,356,309
	Depreciation At 1 April 2021 Charge for the year	141,360 51,313	2,633,054 245,534	623,114 38,342	3,397,528 335,189
	At 31 March 2022	192,673	2,878,588	661,456	3,732,717
	Net Book Value At 31 March 2022	1,488,087	982,136	153,369	2,623,592
	Nei Book Value
	At 31 March 2021	1,539,400	1,227,670	191,711	2,958,781

	Goodwill
Cost
At 1 April 2021	10,602,875
Additions
At 31 March 2022	10,602,875
Amortlsation
At 1 April 2021 Charge for the year	2,120,576 530,144
At 31 Ilflarch 2022	2,650,720
Net Book Value
At 31 March 2022	7,952,155
Net Book Value
At 31 March 2021	8,482,299

10 Investments
		Group		Company
	2022		2021	2022	2021
	F		8	F	F
Cost ofshares in subsidiaries
at 1 April 2021				1803	1803
Antigoni Ltd - disposal as par value
At 31 March 2022				1802	1803

								The Fetal Medicine Centre	The Fetal Medicine Centre
					King's Fertility		Ltd	Ltd
					2022 f		2021 8	2022 f	2021 f
Turnover					10,449,897	6,951,882		2,273,335	2,505,440
Cost ofsales					(2,952,168)	(1,860,659)		(679,500)	(750,461)
Gross profit Administrative	expenses				7,497,729 ~5,307,309	5,091,223 ~4, 100,676		1,593,835 ~1,005,322	1,754,979 ~959,108
Operating Profit/(Loss)					2,190,420		990,547	588,513	795,871
Interest payable
Profit/(Loss) for the Financial Year before charging Covenanted Payment					2,190,420		990,547	588,513	795,871
Covenanted Payment Profit/(Loss) for the		to the Fetal Medicine Financial Year		Foundation	(2,082,334) 108 086		(450,000) 540 547	(595,586) ~7,073	(803,929) ~8,058
									Page 22

11	Debtors
			Notes	Group			Company
				2022	2021	2022		2021
				E	E	8		E
Amounts due		from group company				7,929,537		2,846,806
Trade	Debtors			940,483	3,258,720	551,760		2,534,639
Other	Debtors			12,885	22,391			1,702
Prepayments		and accrued	income	368,015	235,278	217,590		84,322
				1,321,383	3,516,389	8698	887	5,467,469
12	Creditors: Amounts		Falling Due Within	One Year

12 Creditors: Amou	nts Falling	Due Within	One Year
		Notes	Group		Company
			2022	2021	2022	2021
			E	E	F	6
Amounts due to group Trade creditors	company	19	1,545,770	1,142,367	73,934 644,035	65,563 367,357
Corporation Tax Other taxes and social Other creditors	security		128,307 31,772 355,068	196,083 32,225 2,863,415	31,772 12,205	32,225 12,617
Accruals and deferred	income		5,152,129 7,213,046	1,181,351 5,415,441	5,060,008 5,821,954	1,112,057 1,589,819

13 Cred	itors: A	mounts Falling Due After	More Than	One Yea	r
				Group			Company
			2022 E		2021 8	2022 8		2021 f
Other Creditors					3,524,799
					3,524,799
				Group			Company
			2022		2021	2022		2021
			E		F	E		8
Repayable	between	one and five years			3,524,799
					3,524,799

	At 31 March 2022 the group	At 31 March 2022 the group	At 31 March 2022 the group	has	annual	commitments	under	non-cancellable	non-cancellable	operating leases	operating leases	as set out
	below.
							Group			Company
						Land	and buildings			Land and buildings
	Operating leases which	expire:				2022 E		2021 E		2022 E		2021f
	Within 1 year Within 2 to 5 years After more than 5years					868,025 1,099,887 6,901,228		850,405 1,359,887 7,175,953		614,175 500,092 3,117,515		596,555 656,092 3,242,390
						8,869,140		9,386,245		4,231,782		4,495,037
15	Reconciliation ofFunds
							Group			Company
						2022		2021		2022		2021
						f		f		E		F
	Opening accumulated funds		—Unrestricted			13,475,834		10,061,569		12,942,493		9,864,391
	Surplus for the year					2,535,124		3,414,265		2,563,775		3,078, 102
	Unrestricted Fund					16,010,958		13,475,834		15,506,268	12,942,493
	Share Premium
	Non-controlling interests
	Total Funds					16,010,958		13,475,834		15,506,268	12,942,493
	Closing accumulated funds		-	Unrestricted		16,010,958		13,475,834		15,506,268	12,942,493
	Total Funds					16,010,958		13,475,834		15,506,268	12,942,493
16	Reconciliation of operating				profit to	net cash inflow from operating			activities
										2022		2021
										E		6
	Operating profit									2,658,884		3,608,415
	Depreciation									441,173		509,781
	Amortisation									530,144		530,144
	(Increase)/Decrease	in	debtors							2,195,006		(1,065,057)
	Increase/(Decrease)	in	creditors							(5,827,636)		(693,442)
	Accrued expenses/(Income)									3,970,778		251,776
	Interest Payable and	similar charges
	Interest receivable									5,904		2,176
	Net cash inflow/(outflow)			from	operating	activities				3,974,253		3,143,793
17	Analysis of changes		in	cash	and cash equivalents		during	the year
										2022f		2021 E
	Balance at 1 April 2021									6,803,485		4,231,910
	Net cash inflow/(oufflow)									3,974,253		2,571,575
	Balance at 31 March	2022								10,777,738		6,803,485

FOR	THE YEAR ENDED 31 MARCH 2022	THE YEAR ENDED 31 MARCH 2022	THE YEAR ENDED 31 MARCH 2022
18	Analysis ofthe balances ofcash and cash equivalents			as shown in the	balance sheet
						Change in
				2022	2021	Year
				E	E	f
	Cash	at Bank		10,766,843	6,801,810	3,965,033
	Cash	in Hand		10,895	1,675	9,220
	Total	cash at bank	in hand	10,777,738	6,803,485	3,974,253
				10,777,738	6,803,485	3,974,253